Term Life Insurance Buying Tips

Wondering what you can do to find the best term life insurance quotes and rates? Read our term life insurance buying tips.

By Tim Grenda

Matrix Direct Content Specialist and Copywriter

Many consumers are unsure about the different types of life insurance, what type is best for them, and how much coverage they will need. To help make the process a little easier, Matrix Direct offers the following life insurance buying tips:

● Purchase enough life insurance to meet all your needs, especially future ones. Skimping on your life insurance coverage today can leave your spouse, children, and others without enough money to live after you are gone. Be sure to add in the costs of mortgages, education funds, and other expenses your loved ones will have to shoulder without you. Use a life insurance calculator to more accurately estimate your current and future life insurance needs.

● Tailor your life insurance coverage to your individual needs. Life insurance is not a one-size-fits-all deal and we all have different needs. For example, make sure your dependents are covered until they are adults or can otherwise provide for themselves and that your surviving spouse is covered until he or she reaches retirement. Be sure to research the different types of term life insurance available to see that the type of policy you select is a good fit for your individual situation.

● Buy coverage when you are young and healthy, when you will generally earn the lowest rates. Many people put off buying life insurance until they are into their 50s and 60s, only to find out they either cannot get coverage or must pay higher premiums due to health factors. Also, consider policies that require a medical exam to get the lowest rates.

● Tell the truth, the whole truth, and nothing but the truth on your policy application. It may be tempting to say you don’t really smoke two packs a day or that you aren’t 25 pounds overweight, thinking that you are going to save money on your policy. But if you lie on your life insurance application, chances are your beneficiaries will not receive the funds they deserve when you pass away because you were dishonest in obtaining the coverage. And who wants that?

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LIFE INSURANCE SINCE 1995

We are one of the most trusted names in the life insurance business.

Over the last 15 years Matrix Direct has secured over $120 billion in life insurance coverage. Over 6 million clients have come to us for their life insurance needs.

Matrix Direct Insurance Services San Diego Office is located at 9640 Granite Ridge Dr #200, San Diego CA 92123-2691

© 2012 Matrix Direct, Inc. Agency services provided by Matrix Direct Insurance Services in CA (#0B57619), ME, MA, and OK; Matrix Direct Insurance Agency, Inc. in UT; and Matrix Direct, Inc. in AR (#246412) and all other states, except SD. Matrix Direct, its employees, agents, representatives and affiliates do not provide tax, legal, or finance advice.

Matrix Direct, Inc. is a subsidiary of American General Life Insurance Company (AGL), Houston, TX. and an affiliate of The United States Life Insurance Company in the City of New York (USL); NYC, NY.

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